50 Largest Airlines in the World by Annual Revenue

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Passenger airlines are a critical part of global transportation, connecting millions across continents while contributing substantially to their respective economies.

The revenue rankings spotlight industry leaders whose financial performance reflects their operational scale, market presence, and ability to navigate challenges like fluctuating fuel prices and post-pandemic recovery.

With data up to September 2024, this article provides insights into the industry’s giant annual revenue as shared by Airline Weekly member on LinkedIn.

Photo: Aero Icarus | Flickr

Largest Airlines in the World

Delta Air Lines (DL) leads the list of the largest airlines by annual revenue. This comprehensive ranking highlights the financial scale of the aviation industry, showcasing airlines generating billions in revenue.

Here’s the list of the Top 50 largest airlines in the world by annual revenue.

Rank Airline Revenue (in million USD)

1	Delta Air Lines (DL)	56,225
2	United Airlines (UA)	55,994
3	American Airlines (AA)	53,613
4	Lufthansa Group (LH)	40,015
5	International Airlines Group (BA/IB)	33,927
6	Emirates (EK)	33,760
7	Air France/KLM (AF/KL)	33,611
8	Southwest Airlines (WN)	27,375
9	China Southern Airlines (CZ)	24,358
10	Air China (CA)	22,784
11	Qatar Airways (QR)	22,242
12	Turkish Airlines (TK)	22,179
13	China Eastern Airlines (MU)	18,195
14	Air Canada (AC)	16,222
15	Ryanair (FR)	14,726
16	Qantas Airways (QF)	14,481
17	Singapore Airlines (SQ)	14,438
18	All Nippon Airways (NH)	14,337
19	LATAM Airlines (LA)	12,889
20	Korean Air (KE)	11,954
21	easyJet (U2)	11,838
22	Cathay Pacific (CX)	11,648
23	Japan Airlines (JL)	11,537
24	Alaska Airlines (AS)	10,754
25	JetBlue Airways (B6)	9,327
26	IndiGo (6E)	8,854
27	Hainan Airlines (HU)	8,853
28	Jet2 (LS)	8,776
29	EVA Air (BR)	6,832
30	China Airlines (CI)	6,197
31	Wizz Air (W6)	5,524
32	Etihad Airways (EY)	5,500
33	Asiana Airlines (OZ)	5,433
34	Avianca (AV)	5,096
35	Thai Airways (TG)	5,074
36	Spirit Airlines (NK)	5,065
37	Aeromexico (AM)	4,916
38	Air India (AI)	4,773
39	TAP Portugal (TP)	4,667
40	Air New Zealand (NZ)	4,092
41	Virgin Atlantic (VS)	3,899
42	Azul Airlines (AD)	3,696
43	Frontier Airlines (F9)	3,664
44	Gol Airlines (G3)	3,630
45	Copa Airlines (CM)	3,485
46	SkyWest Airlines (OO)	3,335
47	El Al (LY)	3,259
48	Finnair (AY)	3,245
49	Pegasus Airlines (PC)	3,239
50	Volaris (Y4)	3,220

Source: Airline Weekly

1. Delta Air Lines (DL)

Photo: Clément Alloing

• Annual Revenue: $56.2 billion
• Headquarters: Atlanta, Georgia, USA

Delta Air Lines (DL) is the largest airline by revenue, with a strong market presence in the U.S. and an extensive network of international routes. Its operational efficiency and customer focus drive its leadership in the global aviation industry.

2. United Airlines (UA)

• Annual Revenue: $56.0 billion
• Headquarters: Chicago, Illinois, USA

United Airlines (UA) has a significant global footprint, with hubs across the U.S. and key connections to Asia, Europe, and Latin America. Its diverse route network and strategic alliances contribute to its robust financial performance.

Photo: Aero Icarus | Flickr

3. American Airlines (AA)

• Annual Revenue: $53.6 billion
• Headquarters: Fort Worth, Texas, USA

American Airlines (AA) operates the largest fleet globally, serving a wide range of domestic and international destinations. It leverages its size and partnerships to maintain a competitive position in the industry.

4. Lufthansa Group (LH)

Photo: Lufthansa Group

• Annual Revenue: $40.0 billion
• Headquarters: Cologne, Germany

The Lufthansa (LH) Group includes multiple carriers such as Lufthansa, Swiss, and Austrian Airlines. It dominates the European market and maintains a strong transcontinental presence.

5. International Airlines Group (IAG)

Photo- Iberia

• Annual Revenue: $33.9 billion
• Headquarters: London, UK, and Madrid, Spain

International Airlines Group (IAG), the parent company of Aer Lingus (EI), British Airways (BA), Iberia (IB) and others, is a major player in transatlantic travel. Its strategic hubs in London and Madrid drive its profitability and growth.

6. Emirates (EK)

Photo: Clément Alloing

• Annual Revenue: $33.8 billion
• Headquarters: Dubai, UAE

Emirates (EK) is a leader in long-haul travel, connecting global hubs through its base in Dubai. Its modern fleet, largely composed of wide-body aircraft, supports its premium service offerings.

7. Air France/KLM

• Annual Revenue: $33.6 billion
• Headquarters: Paris, France, and Amsterdam, Netherlands

The Air France-KLM Group has a strong European base with connections to Asia, Africa, and the Americas. Its extensive alliances enhance its network reach and revenue streams.

8. Southwest Airlines (WN)

Photo: Aero Icarus | Flickr

• Annual Revenue: $27.4 billion
• Headquarters: Dallas, Texas, USA

Southwest Airlines (WN) dominates the U.S. low-cost carrier market with its efficient operations and point-to-point route model. It is known for customer-friendly policies and competitive pricing.

9. China Southern Airlines (CZ)

• Annual Revenue: $24.4 billion
• Headquarters: Guangzhou, China

China Southern (CZ) is one of the largest airlines in Asia, serving domestic and international routes. Its strategic focus on the Asia-Pacific region ensures steady growth.

10. Air China (CA)

• Annual Revenue: $22.8 billion
• Headquarters: Beijing, China

Air China (CA) serves as a primary international gateway for China, offering extensive connections to Europe, the Americas, and Asia. It benefits from strong government backing.

11. Qatar Airways (QR)

Photo: Clément Alloing

• Annual Revenue: $22.2 billion
• Headquarters: Doha, Qatar

Qatar Airways (QR) is renowned for its luxury service and state-of-the-art fleet. Its Doha hub connects passengers globally, contributing to its rising revenue.

12. Turkish Airlines (TK)

• Annual Revenue: $22.2 billion
• Headquarters: Istanbul, Turkey

Turkish Airlines (TK) operates one of the most expansive networks, connecting Europe, Asia, Africa, and the Americas via Istanbul. Its strategic position supports its growth.

13. China Eastern Airlines (MU)

• Annual Revenue: $18.2 billion
• Headquarters: Shanghai, China

China Eastern (MU) is a key player in China’s domestic market and a major connector to international destinations, particularly in Asia-Pacific.

14. Air Canada (AC)

• Annual Revenue: $16.2 billion
• Headquarters: Montreal, Quebec, Canada

Air Canada (AC) leads the Canadian market, offering connections across North America and to Europe, and Asia. Its robust loyalty program supports customer retention.

Photo: Ryanair, EI-DCW, Boeing 737-8AS | Anna Zvereva | Flickr

15. Ryanair (FR)

• Annual Revenue: $14.7 billion
• Headquarters: Dublin, Ireland

Ryanair (FR) dominates Europe’s low-cost market with its no-frills service model and extensive intra-European routes, ensuring high efficiency and profitability.

16. Qantas Airways (QF)

• Annual Revenue: $14.5 billion
• Headquarters: Sydney, Australia

Qantas (QF) is Australia’s flagship carrier, known for its premium offerings and long-haul routes, particularly to Asia and the U.S.

17. Singapore Airlines (SQ)

Photo:
Singapore Airlines & Cathay Pacific Airbus A350-9 | DUS/EDDL… | Flickr | Creator: SjPhotoworld

• Annual Revenue: $14.4 billion
• Headquarters: Singapore

Singapore Airlines (SQ) is recognized globally for its excellent service and modern fleet, making it a preferred choice for premium travelers.

18. All Nippon Airways (NH)

• Annual Revenue: $14.3 billion
• Headquarters: Tokyo, Japan

ANA (NH) is one of Japan’s leading airlines, offering extensive domestic and international connections, particularly in Asia.

19. LATAM Airlines (LA)

• Annual Revenue: $12.9 billion
• Headquarters: Santiago, Chile

LATAM (LA) is South America’s largest airline, providing connections throughout the continent and to North America, Europe, and Oceania.

20. Korean Air (KE)

• Annual Revenue: $12.0 billion
• Headquarters: Seoul, South Korea

Korean Air (KE) plays a significant role in connecting Asia with other continents, backed by a strong cargo operation.

21. easyJet (U2)

• Annual Revenue: $11.8 billion
• Headquarters: Luton, England, UK

easyJet (U2) is a major low-cost carrier in Europe, known for its point-to-point network across popular destinations. Its efficient operations cater to leisure and business travelers.

22. Cathay Pacific (CX)

• Annual Revenue: $11.6 billion
• Headquarters: Hong Kong

Cathay Pacific (CX) is a premier carrier in Asia, specializing in long-haul flights and connecting Asia with Europe, North America, and Oceania.

23. Japan Airlines [JAL] (JL)

• Annual Revenue: $11.5 billion
• Headquarters: Tokyo, Japan

Japan Airlines (JL) serves a mix of domestic and international routes, focusing on service quality and efficiency, particularly in the Asia-Pacific region.

24. Alaska Airlines (AS)

Photo: Alaska Airlines

• Annual Revenue: $10.8 billion
• Headquarters: Seattle, Washington, USA

Alaska Airlines (AS) dominates the West Coast of the U.S., offering an extensive network of regional and transcontinental flights with a focus on customer service.

25. JetBlue Airways (B6)

• Annual Revenue: $9.3 billion
• Headquarters: Long Island City, New York, USA

JetBlue (B6) is a hybrid low-cost carrier in the U.S., known for its passenger-friendly amenities and focus on transcontinental and Caribbean routes.

26. IndiGo (6E)

Photo: Siddh Dhuri | MumbaiPlanes

• Annual Revenue: $8.9 billion
• Headquarters: Gurugram, India

IndiGo (6E) is India’s largest low-cost carrier, offering an extensive domestic network and expanding international connections at competitive prices.

27. Hainan Airlines (HU)

• Annual Revenue: $8.9 billion
• Headquarters: Haikou, China

Hainan Airlines (HU) operates a mix of domestic and international routes, focusing on premium service and niche destinations.

28. Jet2 (LS)

• Annual Revenue: $8.8 billion
• Headquarters: Leeds, England, UK

Jet2 (LS) is a leading leisure airline in the UK, specializing in holiday packages and routes to sunny destinations in Europe.

29. EVA Air (BR)

• Annual Revenue: $6.8 billion
• Headquarters: Taipei, Taiwan

EVA Air (BR) is known for its high service standards and extensive connections between Asia and North America, particularly through its Taipei hub.

30. China Airlines (CI)

• Annual Revenue: $6.2 billion
• Headquarters: Taipei, Taiwan

China Airlines (CI) focuses on passenger and cargo operations, with a strong presence in Asia and trans-Pacific routes to North America.

31. Wizz Air (W6)

• Annual Revenue: $5.5 billion
• Headquarters: Budapest, Hungary

Wizz Air (W6) is a key low-cost carrier in Central and Eastern Europe, offering affordable travel across a growing network of destinations.

32. Etihad Airways (EY)

Photo: Clément Alloing

• Annual Revenue: $5.5 billion
• Headquarters: Abu Dhabi, UAE

Etihad Airways (EY) focuses on premium service and long-haul routes, leveraging its Abu Dhabi hub to connect Europe, Asia, and the Americas.

33. Asiana Airlines (OZ)

• Annual Revenue: $5.4 billion
• Headquarters: Seoul, South Korea

Asiana Airlines (OZ) offers a mix of domestic and international flights, focusing on service quality and strategic connections in Asia.

34. Avianca (AV)

• Annual Revenue: $5.1 billion
• Headquarters: Bogotá, Colombia

Avianca (AV) is one of Latin America’s oldest airlines, providing connections throughout the Americas and to select European destinations.

35. Thai Airways (TG)

• Annual Revenue: $5.1 billion
• Headquarters: Bangkok, Thailand

Thai Airways (TG) is a key player in Southeast Asia, offering premium service and connections to Europe, Asia, and Oceania.

Photo: Judah Davis | Shared on X

36. Spirit Airlines (NK)

• Annual Revenue: $5.1 billion
• Headquarters: Miramar, Florida, USA

Spirit Airlines (NK) is an ultra-low-cost carrier specializing in no-frills travel across the U.S., Latin America, and the Caribbean.

37. Aeromexico (AM)

• Annual Revenue: $4.9 billion
• Headquarters: Mexico City, Mexico

Aeromexico (AM) serves as Mexico’s flagship carrier, connecting the Americas with Europe and Asia. It focuses on a mix of business and leisure travelers.

Photo: avgeekwithlens/ Harsh Tekriwal

38. Air India (AI)

• Annual Revenue: $4.8 billion
• Headquarters: New Delhi, India

Air India (AI), under new management, is modernizing its fleet and focusing on long-haul connections between India and key global destinations.

39. TAP Portugal (TP)

• Annual Revenue: $4.7 billion
• Headquarters: Lisbon, Portugal

TAP Portugal (TP) specializes in connecting Europe with Brazil and other destinations in South America via its Lisbon hub.

40. Air New Zealand (NZ)

Photo: avgeekwithlens/ Harsh Tekriwal

• Annual Revenue: $4.1 billion
• Headquarters: Auckland, New Zealand

Air New Zealand (NZ) is known for its strong service standards and its role in connecting New Zealand to Asia, Australia, and the Americas.

41. Virgin Atlantic (VS)

Photo: Clément Alloing

• Annual Revenue: $3.9 billion
• Headquarters: Crawley, England, UK

Virgin Atlantic (VS) focuses on long-haul routes, particularly between the UK and the U.S., with an emphasis on premium offerings.

42. Azul Airlines (AD)

• Annual Revenue: $3.7 billion
• Headquarters: Barueri, Brazil

Azul Airlines (AD) serves regional and international routes across Brazil and neighboring countries, focusing on connectivity in underserved markets.

43. Frontier Airlines (F9)

• Annual Revenue: $3.7 billion
• Headquarters: Denver, Colorado, USA

Frontier Airlines (F9) is an ultra-low-cost carrier, offering budget-friendly travel across the U.S., Mexico, and the Caribbean.

44. Gol Airlines (G3)

• Annual Revenue: $3.6 billion
• Headquarters: São Paulo, Brazil

Gol Airlines (G3) focuses on affordable air travel within Brazil and South America, leveraging a low-cost model.

45. Copa Airlines (CM)

• Annual Revenue: $3.5 billion
• Headquarters: Panama City, Panama

Copa Airlines (CM) connects the Americas through its hub in Panama, specializing in efficient connections between North, Central, and South America.

46. SkyWest Airlines (OO)

• Annual Revenue: $3.3 billion
• Headquarters: St. George, Utah, USA

SkyWest Airlines (OO) operates as a regional carrier for major U.S. airlines, providing essential connections to smaller cities.

47. El Al (LY)

• Annual Revenue: $3.3 billion
• Headquarters: Tel Aviv, Israel

El Al (LY) focuses on connecting Israel to Europe, North America, and Asia, emphasizing security and service quality.

48. Finnair (AY)

• Annual Revenue: $3.2 billion
• Headquarters: Helsinki, Finland

Finnair (AY) leverages its strategic position to connect Europe and Asia, with a strong focus on long-haul routes.

49. Pegasus Airlines (PC)

• Annual Revenue: $3.2 billion
• Headquarters: Istanbul, Turkey

Pegasus Airlines (PC) is a low-cost carrier that connects Europe and the Middle East, offering affordable travel options.

50. Volaris (Y4)

• Annual Revenue: $3.2 billion
• Headquarters: Mexico City, Mexico

Volaris (Y4) is a low-cost carrier focusing on domestic routes within Mexico and select international destinations in the U.S.

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